This paper studies dynamic point selection (DPS) and frequency-selective multi-user scheduling to improve ultra-reliable low-latency communication (URLLC) for the fifth generation New Radio (5G NR) systems. DPS is a special type of multi-channel access scheme enhances the network performance by enabling dynamic transmission point selection on a fast time-scale. The achieved gain from frequency-selective URLLC scheduling is further studied by investigating a low-complexity resource allocation algorithm. Extensive 5G NR system-level simulation results show that DPS achieves 30% improvement of URLLC latency. Our analyses also indicate that for DPS, user-specific clustering with 3-dB power range achieves the major improvement of URLLC latency.